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June 05, 2013


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Chris —

One of the facts that the clowns in "banking" (and, yes, I am in the industry) fail to understand is that they are no longer in the cash, vault, securities, safekeeping, business anymore.

We are in the data arbitrage business.

As items became dematerialized, and we started moving bits and bytes electronically, rather than counting banknotes and coinage, we need to understand what our role is now.

And, as such, we should be developing, testing, implementing, and enhancing ever increasing, more sophisticated data encryption and protection protocols and techniques. Those that fail to do so, and the list is long (and "distinguished") deserve the fate that will befall them.

The problem is that through their laziness and slovenly actions, they will be subject to hackers, and data theft. When those result in clients (and the banks) losing money, we. the taxpayers. will once again be on the hook to bail the banks out.

And, once again, Too Big To Fail will come to bite us all in the proverbial posteriors.


DSwiss have a digital Safe Deposit Box for banks:-


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